India's auto sector began FY26 on a mixed note as UV sales and exports grew, but overall demand stayed soft. Two-wheelers and cars saw declines, while three-wheelers hit record Q1 sales
Passenger vehicle sales grew modestly by 2.5% in June as rains and liquidity concerns affected demand, while all other segments also recorded positive year-on-year growth
Maruti Suzuki India on Tuesday reported a 6 per cent year-on-year decline in total sales to 1,67,993 units in June. The country's largest carmaker had sold a total of 1,79,228 units in June 2024. Its total domestic passenger vehicle dispatches to dealers stood at 1,18,906 units last month compared to 1,37,160 units in the year-ago period, a dip of 13 per cent, Maruti Suzuki India (MSI) said in a statement. "The slowdown in passenger vehicle sales is largely due to a sharp decline in the smaller segment cars. Historically, passenger vehicle sales used to grow at 1.5 times the GDP growth. But now, even after 6.5 per cent GDP growth, the car market is nearly flat," MSI Senior Executive Officer Rahul Bharti said. This is because the once mass small car segment is not participating in the growth at all, he added. "This is clearly an affordability issue," Bharti said. Since 2019, the entry-level price point in the industry has jumped by over 70 per cent, largely driven by stricter ...
Mahindra & Mahindra on Tuesday reported a 14 per cent year-on-year increase in its overall auto sales to 78,969 units in June. In the passenger vehicles segment, the company said its utility vehicles sales surged 18 per cent to 47,306 units in the domestic market last month against 40,022 units in the year-ago period, up 18 per cent. Domestic three-wheeler sales stood at 8,454 units, an increase of 37 per cent as compared with 6,180 units in June last year, M&M said in a statement. Total exports increased 1 per cent year-on-year to 2,634 units last month. "The quarter ended on a very positive note for us, marking the highest quarter ever for SUVs," Nalinikanth Gollagunta, Mahindra & Mahindra (M&M) CEO - Automotive Division, said. In the farm equipment sector (FES), the company said its total tractor sales (domestic and exports) rose 13 per cent to 53,392 units in June from 47,319 units a year ago. In the domestic market, tractor sales grew 13 per cent to 51,769 units ..
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Analysts at Nomura also flagged a looming production risk starting June, arising from China's export restrictions on rare earth magnets-used across both EV and ICE components.
Flagging reported drop in the share of passenger cars in the overall auto sales, the Congress on Wednesday claimed that it points to a state of the economy where most Indians are locked out of the consumption economy, there is growing inequality, stagnant incomes and weak investment. Congress general secretary in-charge communications Jairam Ramesh shared a media report which claimed that while the middle class is increasingly unable to transition from two-wheelers to entry-level cars, the sport utility vehicle (SUV) segment is recording a rising share of first-time buyers. There was no immediate response from the government or the BJP on the claims. "India Inc is raising the siren once again -? this time for auto sales. In 2018-19, passenger cars made up 65% of total sales of vehicles -? that share is now only 31%. SUVs and multi-purpose vehicles now account for 65% of sales," Ramesh said in a post on X. Noting that car sales have long been considered an indicator of the economy's
Overall exports up 20% in April amid geopolitical tensions, says SIAM
Bajaj Auto, Ather Energy, and Hero also recorded double-digit declines in their monthly sales. Only Kinetic Green Energy and Power Solutions reported a rise in their m-o-m e2W sales, up 55.1 per cent
Automobile retail sales rose 3 per cent in April led by strong rural demand and festive tailwinds, though commercial vehicle sales continued to show weakness
This growth comes despite a challenging first quarter following the expiration of FAME subsidies, among other challenges
Ola Electric has attributed part of its struggle to an ongoing dispute with a vendor responsible for facilitating registrations, arguing that its actual sales figures are higher
As of March 30, the total automobile sales for the financial year were seen at 25.9 million units, up from 24.6 million in FY24, and 22.3 million in FY23
Market to wrap up FY25 with 5-8% volume growth
The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically
According to analysts at Nuvama, the tractor industry volumes are expected to grow in double digits, with an approximately 16 per cent Y-o-Y increase in the domestic market
The overall motor insurance premium stood at Rs 89,405.56 crore in the April-February period of FY25
The price hikes come at a time when the Indian passenger vehicle market is already under pressure